Ceridian Shareholder Says No

Pershing Square Capital Management has come out in opposition to the pending $5.3 billion buyout of Ceridian Corp. (NYSE: CEN) by Thomas H. Lee Partners and Fidelity National Financial. Pershing is Ceridian's largest shareholder with around a 15% stake, and has retained Lazard Freres to seek uperior offers. Under the current deal, Ceridian stockholders would receive $36 per share, while . Deutsche Bank Securities and Credit Suisse would provide leveraged financing. Ceridian is being advised by Greenhill & Company. www.ceridian.com